Reliance Industries Q Profit Jumps 41% on Strong Refining and Jio

Reliance's results matter less as an Indian conglomerate story than as a window into how physical commodity flows are being rerouted around Strait of Hormuz risk: record crude throughput achieved by sourcing from the Middle East and North America suggests supply-chain flexibility, not demand strength, is doing the heavy lifting. The Jio Platforms listing and its core profit growth also widen the group's exposure to India's digital economy, giving the equity a dual energy-and-telecom narrative. Whether refining margins hold as Hormuz disruptions evolve, and how the newly listed Jio trades, are the open questions worth watching.